10/10/2022, 22:16 Midterm Quiz 1: Attempt review

Started on Monday, 10 October 2022, 8:55 PM

State Finished
Completed on Monday, 10 October 2022, 9:13 PM
Time taken 18 mins 1 sec
Marks 8.00/10.00
Grade 80.00 out of 100.00

Question 1

Correct

Mark 1.00 out of 1.00

When an entity reclassification a financial asset from amortized cost to fair value through profit or loss, the fair value is determined at
reclassification date.

Select one:
a. False
b. True

Question 2
Correct

Mark 1.00 out of 1.00

Transaction costs directly attributable to the issuance of shares include following, except

Select one:
a. Stock listing fee
b. Documentary stamp tax and other percentage tax
c. Underwriting fee
d. SEC registration fee for new shares

Question 3
Correct

Mark 1.00 out of 1.00

Bonds for which the owners' names are not registered with the issuing corporation are called

Select one:
a. Serial bonds
b. Bearer Bonds
c. All of the chocies
d. Term bonds

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10/10/2022, 22:16 Midterm Quiz 1: Attempt review

Question 4

Incorrect

Mark 0.00 out of 1.00

Bonds which give the bondholders the right to exchange their bonds for share capital of the issuing entity at any time prior to maturity.

Select one:
a. Callable bonds
b. Serial bonds 
c. Convertible bonds
d. Bearer Bonds

Question 5

Correct

Mark 1.00 out of 1.00

Under PFRS 9, all investments in equity must be measured at fair value.

Select one:
a. True
b. False

Question 6
Correct

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An early extinguishment of bonds payable, which were originally issued at a premium, is made by purchase of the bonds between interest
dates. At the time of reacquisition

Select one:
a. interest must be accrued from the last interest date to the purchase date
b. the premium must be amortized up to the purchase date
c. any costs of issuing the bonds must be amortized up to the purchase date
d. all of these

Question 7
Correct

Mark 1.00 out of 1.00

Stock dividends affect the total cost of the investment

Select one:
a. True
b. False

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10/10/2022, 22:16 Midterm Quiz 1: Attempt review

Question 8

Incorrect

Mark 0.00 out of 1.00

Which of the following statements is true for measuring an asset at fair value?

Select one:
a. The fair value is based upon an entry price to purchase the asset
b. The price should be adjusted for transportation costs to transport the asset to its principal market
c. The price of the asset should be adjusted for transaction costs 
d. The fair value of the asset should be adjusted for costs to sell

Question 9

Correct

Mark 1.00 out of 1.00

It is defined as a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing
information on an ongoing basis

Select one:
a. Stock market
b. Global market
c. Active market
d. Principal market

Question 10
Correct

Mark 1.00 out of 1.00

A secured bond would require

Select one:
a. a claim on specific assets in the event of default
b. a plan for paying off the bond at maturity
c. no restrictive covenants
d. an independent trustee

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